Dilution profile // every instrument, one screen, from SEC filings

SOUTHERN CO (SOJE)

CIK 92122 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 computed sub-ratings (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHS-3ASR on file 2026-06-05
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
LOW+3% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOWoperating cash flow positive
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-06-302026-03-31

Latest: 1.13B shares as of Mar 31, 2026 (10-Q).

⊙
EVIDENCE — filed/published fact
SourceSEC XBRL, cover-page share count
Fielddei:EntityCommonStockSharesOutstanding
As of2026-03-31
HowThe newest cover-page count as filed. It is used as the current count only while it is no more than about 15 months older than the company’s newest periodic filing; the float checker applies a 200-day rule and sets it beside the balance-sheet count.
Open the source document →

Cash runway

Self-funding

profitable · generates cash

Full breakdown: cash runway tool · source filing →

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Series 2026 B Convertible Senior Notes$1.90B—$118.53.5%~16.0M sh
Series 2026 A Convertible Senior Notes$834.0M—$104.562.125%-4.5%~8.0M sh
Series 2024 A Convertible Senior Notes$829.9M—not tagged——

If every note above converted at its tagged price: ~24.0M new shares on 1.13B currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Nov 5, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding1.13BMar 31, 2026
+ Series 2026 B Convertible Senior Notes (if fully converted)16.0MAug 31, 2026
+ Series 2026 A Convertible Senior Notes (if fully converted)8.0MAug 31, 2026
Fully diluted estimate1.15B+2.1% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3ASRJun 5, 2026fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →
S-3ASRFeb 16, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →
S-3ASRFeb 16, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 4 executed · 1 registered.

EXECUTEDAug 6, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDJun 8, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →
REGISTEREDJun 5, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR →
EXECUTEDMar 17, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →
EXECUTEDMar 16, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
MARKETINGMar 16, 2026Free-writing prospectus — offering being marketedFWP →
MARKETINGNov 4, 2025Free-writing prospectus — offering being marketedFWP →
EXECUTEDNov 4, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →
EXECUTEDNov 3, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDMay 27, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDFeb 26, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →
EXECUTEDFeb 25, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

Keep going: float checker · offering calendar · short-squeeze screener · full SOJE workspace

Free to use. No account, no card.